Salary Needed to Live in Boston as a Retiree

A retired individual (65+) needs approximately $31,200/year to live comfortably in Boston, MA — including 5% savings.

Comfortable Salary
$31,200
with 5% savings
Bare Minimum
$29,033
no savings buffer
Monthly Expenses
$1,742
42% above national avg

Detailed Monthly Budget for a Retiree in Boston

ExpenseBostonNat'l AvgDiff
🏠 1-2BR Senior-Friendly Rent$228$121+88%
🛒 Groceries$24$16+50%
⚡ Utilities$16$15+7%
🚗 Transportation$25$18+39%
🛡️ Car Insurance$217$229-5%
🏥 Health Insurance$62$58+7%
Medicare Supplement$304$200+52%
Prescription Drugs$228$150+52%
Internet + Phone$182$120+52%
Recreation & Social$304$200+52%
Home Maintenance$152$100+52%
Total Monthly$1,742$1,227+42%

How We Calculated the Salary

Monthly expenses:$1,742
Target savings (5%):$99/mo
Monthly after-tax needed:$1,841
Effective tax rate:28%

Gross annual salary needed:$31,200

Other Household Types in Boston

Single Person
$30,000/yr
$1,550/mo expenses
Couple (No Kids)
$42,300/yr
$2,115/mo expenses
Family with Kids
$92,084/yr
$4,374/mo expenses

Related Pages

Living Alone in BostonCity OverviewAfford on $75K?Afford on $100K?Cheaper AlternativesCost of Living

FAQ

What salary does a retiree need in Boston?
A retiree needs approximately $31,200/year ($2,600/month gross) to live comfortably in Boston with a 5% savings rate.
How much is rent for a retiree in Boston?
A 1-2br senior-friendly in Boston costs approximately $228/month, which is the largest single expense at 13% of the total budget.
Is Boston affordable for a retiree?
Boston is above the national average for retiree living costs, requiring 42% more salary than the US median.
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